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According to Article 6.1 of the Law on Non-Banking Financial Activities, "Non-banking financial activities may be carried out by legal entities of Mongolia or foreign countries in accordance with the special license issued by the Financial Regulatory Commission". It is established on the basis of obtaining a special license from the Financial Regulatory Commission.
Also, in Article 7.1.6 of the law, "electronic payment and remittance services..." are legalized to be classified as non-banking financial activities, and the law enforcement agencies will detect and investigate the activities that may have been carried out without a special license issued by the competent authority. investigation is underway.
Therefore, citizens and the general public should check whether they have the appropriate special license issued by the government authorities when receiving any financial services, and protect themselves from the risks that may arise in the future. Be aware of the dangers of becoming a victim or an unwitting accomplice to crime.
The Financial Regulatory Commission regularly updates information about non-banking financial institutions operating with a special license and makes it publicly available on the Commission's website www.frc.gov.mn, so when receiving electronic payment and money transfer services, the name and license certificate of those persons are required.
As of the date of this information, the following non-banking financial institutions have received a special license from the Financial Regulatory Commission to operate "electronic payment and remittance services". It includes:

1. “Business -Invest Development NBFI” LLC
2. “Ikh Mongol Credit NBFI” LLC
3. “Ireedui invest NBFI” LLC
4. “Khatan suld NBFI” LLC
5. “Shine Tugrug NBFI” LLC
6. “Net capital finance corporation NBFI” LLC
7. “Naransansar NBFI” LLC
8. “Exclusivechange NBFI” LLC
9. “Mobifinance NBFI” LLC
10. “GS Capital NBFI” LLC
11. “Ardcredit NBFI” LLC
12. “Digital market NBFI” LLC
13. “Investos NBFI” LLC
14. “Oortsogiin hundi NBFI” LLC
15. “Gumuda Finance NBFI” LLC
16. “Financial triple NBFI” LLC
17. “Moneypolo NBFI” LLC
18. “Lendmn NBFI” LLC
19. “Gyals Credit NBFI” LLC
20. “Solomon Investments NBFI” LLC
21. “Public Credit NBFI” LLC
22. “T-finance NBFI” LLC
23. “FSOS NBFI” LLC
24. “Dash Credit NBFI” LLC
25. “Sain Finance And Transfer NBFI” LLC
26. “Prime Financial Holdings NBFI” LLC
27. “Sam Nor NBFI” LLC
28. “Tugmel NBFI” LLC
29. “MPSP NBFI” LLC
30. “ESA Finance NBFI” LLC
31. “Invescore wallet NBFI” LLC

FINANCIAL REGULATORY COMMISSION